To sync and update inventory using Pipemonk, we need you to select a Cost of Good Sold account in Sync Settings. Let us see how to create it in QuickBooks Online:
1)Click on the Settings (the gear icon) in your QuickBooks Online account:
2)Click on ‘Chart of Accounts’ in the Settings column as shown:
3)In the ‘Chart of Accounts’ page, click on “New”
4)Choose the ‘Category Type’ as “Cost Of Goods Sold”:
5)Now choose “Supplies & Materials-COGS“ as the “Detail Type”:
6)Give a ‘Name’ to the account.
Click on “Save”. Thats it!
A Cost of Goods Sold account has been successfully created in your QuickBooks Online. When you reload Pipemonk Sync Settings, this account can be used.